U.S. hospitals wasting about $25.4B on supply chain every year
October 22, 2018 / Tina Reed
The amount of money U.S. hospitals will waste on unnecessary supply chain spending will reach $25.4 billion this year, up about 10% or $2.4 billion over last year, according to a new report. In its study (PDF) of 2,300 hospitals, consulting firm Navigant also found that hospitals could save up to 18%, or $11 million a year per hospital, by reworking supply chain. That's the equivalent of 160 registered nurses, 42 primary care doctors or the cost of building two outpatient surgery centers, the firm said. "At a time when operating margins continue to decline, we have found that hospital leadership not fully investing in their supply chain are missing changes to optimize the financial potential of their organizations," said Navigant Director Rob Austin in a statement.